Last Updated: 04/18/2025
Brooklyn Coop FCU High Yield Savings Account
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Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
1.50%(Verified 06/21/2024)
Minimum Opening Deposit
$5
Minimum Balance to Earn APY
N/A
Brooklyn Coop FCU High Yield Savings Account Review
Brooklyn Coop FCU High Yield Savings Account is offered by Brooklyn Cooperative Federal Credit Union, a credit union founded in 1999 and based in , NY. Brooklyn Coop FCU High Yield Savings Account are available in 50 states and Washington, DC.
Key Takeaways
- High yield savings. This account offers an annual percentage yield of up to 1.50%, which is much higher than the average interest rate for a savings account.
- No monthly maintenance fees. This account does not charge any monthly account fees.
- Small minimum initial deposit. You only need $5.00 to open an account.
Brooklyn Coop FCU High Yield Savings Account Pros & Cons
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Brooklyn Coop FCU High Yield Savings Account FAQ
Are savings accounts from Brooklyn Cooperative Federal Credit Union federally insured?
Yes, your savings accounts are insured up to $250,000 per share owner for each account ownership category. The National Credit Union Administration (NCUA), a federal agency, administers the insurance fund and regulates federally insured credit unions. The fund is backed by the full faith and credit of the U.S. Government.
Does Brooklyn Cooperative Federal Credit Union offer a signup bonus?
Brooklyn Coop FCU High Yield Savings Account doesn't offer a signup bonus.
What is the minimum initial deposit for Brooklyn Coop FCU High Yield Savings Account?
The minimum deposit to open a Brooklyn Coop FCU High Yield Savings Account is $5.00.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Average Balance to Avoid Monthly Service Fee | $0.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | $5.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does Brooklyn Coop FCU High Yield Savings Account offer?
Brooklyn Coop FCU High Yield Savings Account offers an APY of 1.50% (APY stands for annual percentage yield, rates may change). This is much higher than the average savings account rate.
The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually. What fees does Brooklyn Coop FCU High Yield Savings Account charge?
Brooklyn Coop FCU High Yield Savings Account does not charge a monthly service fee. See the fee breakdown section below to view all fees.
- Outgoing domestic bank transfers come with a $30.00 fee.
- Outgoing international bank transfers come with a $50.00 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
What features and perks does Brooklyn Coop FCU High Yield Savings Account offer?
This savings account includes the following features:
Can you set up a direct deposit to Brooklyn Coop FCU High Yield Savings Account?
Yes, you can typically set up a direct deposit to this account. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.
What is the customer support email for Brooklyn Coop FCU High Yield Savings Account?
The customer support email for Brooklyn Coop FCU High Yield Savings Account is info@brooklyn.coop.
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Hours of Operation
Sunday
Closed
Monday
Closed
Tuesday
9:00AM - 5:00PM
Wednesday
11:00AM - 3:00PM
Thursday
11:00AM - 3:00PM
Friday
11:00AM - 6:00PM
Saturday
9:00AM - 2:00PM